We need to utilise blockchain technology to boost trade urges ECR MEP Emma McClarkin. Miss McClarkin today unveiled her report that highlights blockchain’s potential to simplify and streamline international trade in the European Parliament’s trade committee. Her report calls for the EU to update its customs procedures to use blockchain to reduce the costly and burdensome paperwork that businesses and authorities need to fill in to trade.

We need to utilise blockchain technology to boost trade urges ECR MEP Emma McClarkin.

Miss McClarkin today unveiled her report that highlights blockchain’s potential to simplify and streamline international trade in the European Parliament’s trade committee. Her report calls for the EU to update its customs procedures to use blockchain to reduce the costly and burdensome paperwork that businesses and authorities need to fill in to trade.

Miss McClarkin, ECR International Trade Spokesman, said: “There is tremendous potential for blockchain to revolutionise the way businesses trade and exchange information, goods and ideas. The EU must start to foster and incorporate this technology and I hope my fellow MEPs will support my call for innovative technology to be put at the heart of our trade policy.”

“Blockchain can be used to cut the customs paperwork enabling businesses to strengthen their supply chains. That means smaller businesses will find it easier to trade and new jobs will be created. If this emerging technology is fully embraced globally by customs agencies it could boost world trade by 15%.

“My report also shows how blockchain can improve transparency throughout the supply chain giving consumers greater certainty about what products they are buying.”